BILL Holdings Rises 0.75% as Tax Reform Drives $210M Volume to 487th Market Rank

On August 20, 2025, BILL Holdings (BILL) rose 0.75% with a trading volume of $210 million, a 36.03% increase from the previous day, ranking 487th in market activity. The stock’s performance coincided with the implementation of the One Big Beautiful Bill Act (OBBBA), a tax reform law signed into law in July 2025. The act permanently raised federal estate and gift tax exemptions to $15 million per individual ($30 million for married couples), indexed for inflation, and expanded deductions for state and local taxes to $40,000 annually until 2029. These changes are expected to influence wealth transfer strategies and reduce estate tax liabilities for high-net-worth individuals, potentially affecting demand for financial planning services.

The OBBBA also expanded the scope of 529 education savings plans to include K-12 expenses, vocational training, and dual enrollment courses, enhancing their utility for long-term financial planning. Additionally, the law introduced new tax brackets for university endowments and maintained the 37% top income tax rate permanently. These provisions could indirectly benefit financial institutions offering estate and education planning solutions by increasing client engagement with tax-advantaged strategies. However, the temporary nature of certain deductions, such as the enhanced SALT cap, which reverts to $10,000 in 2030, may create uncertainty for clients seeking long-term tax optimization.

A backtest of a strategy buying the top 500 stocks by daily trading volume and holding for one day from 2022 to 2025 showed a 0.98% average daily return, with a 31.52% total return over 365 days. The approach captured short-term momentum but faced volatility, peaking at 7.02% in June 2023 and declining by -4.20% in September 2022. While volatile, the strategy maintained an upward trend, appealing to short-term traders.